Funding education with a STABLE Account
The Georgia STABLE Account is an investment account for eligible individuals with ID.
Learn more about how STABLE Accounts can support your plans to Include College.
What is a STABLE account?
A STABLE account is an investment account available to eligible individuals living with disabilities. STABLE accounts allow individuals to save and invest money without losing eligibility for certain public benefits programs, like Medicaid, Supplemental Security Income (SSI), or Social Security Disability Income (SSDI).
STABLE accounts are investment accounts, similar to 529 college savings accounts or 401(k) retirement accounts. When you deposit money into your STABLE account, your money will be invested in different options that you choose. While you can still withdraw and spend your money whenever you need it, STABLE accounts also allow you to grow your money and to save long-term for disability expenses.
Accountholders can save and invest up to $18,000 a year (and, if employed, up to $14,580 more) for a wide range of qualified expenses. The account’s growth is tax-free and your contributions may qualify for a state income tax deduction.
These savings can be used for everyday expenses, including education.
Using a STABLE Account for Education
Georgia has also launched the STABLE/Path2College Matching Scholarship program that is designed to encourage families with children who have disabilities to save for future qualified educational expenses through Georgia’s Path2College (P2C) 529 Savings Plans.
What is the Georgia STABLE/P2C Matching Scholarship Program?
The Georgia STABLE/P2C Matching Scholarship Program is designed to encourage families with children who have disabilities to save for future qualified educational expenses through Georgia’s Path2College (P2C) 529 Savings Plans.
- Eligible Georgia STABLE account owners can receive a scholarship match of up to $2,500 based on net contributions made to their accounts between January 1 and December 31, 2024.
- ABLE eligible Georgia residents aged 18 and under, as of January 1, 2024, who contribute to a new or existing Georgia STABLE account between January 1 and December 31, 2024, can apply.
- Applications can be submitted by entering the scholarship promo code, “MATCH2024”, when you log in to your Georgia STABLE account portal.
- Matching Scholarships will be awarded on a first-come, first-served basis.
